MTN sets sights on Africa banking lead - Mobile World Live

MTN sets sights on Africa banking lead

23 JAN 2018

MTN CEO Rob Shuter (pictured) targeted a trebling of its mobile money subscribers across Africa within the next four years, with the eventual aim of being the largest bank on the continent.

The ambitious plan to grow user numbers to 60 million was revealed in Nigerian national newspaper Leadership following comments made by Shuter at a Deloitte event in South Africa.

He added the operator would use its brand strength to continue to push mobile money services across the markets it already operates in. Finance is the digital service the company would “put its money on” for the future.

Around 21 million customers today use MTN’s mobile money services, Shuter said adding the number is growing at a rate of half a million active users per month.

MTN operates mobile money services across 14 markets in Africa including Ghana, Ivory Coast, Rwanda, Cameroon and Zambia.

Last week the company announced it would increase the scope of its Ghana service to include purchases from the Google Play app store – part of a bid to increase the number of transactions its customers make using the service.

Its goal of becoming the number one provider of banking services on the continent will see it compete with ambitious plans from Vodacom, which is preparing to export m-Pesa to new markets in a bid to be “formidable” in the sector.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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